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☆ Safe-haven gold gains on renewed Fed cut bets
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged up on Monday, holding above the $2,050 level on safe-haven appeal from elevated tensions in the Middle East and on renewed bets for an early rate cut by the U.S. Federal Reserve. Spot gold was up 0.2% at $2,053.69 per ounce, as of 0435 GMT, after marking its biggest daily gain since Dec. 12 on Friday. Overall, traders are betting on 166 basis points (bps) of Fed rate cuts this year, higher than Friday morning's bets of 150 bps. According to Reuters technical analyst Wang Tao, spot gold may break resistance at $2,060 per ounce and rise into the $2,071-$2,079 range. Spot silver rose 0.4% to $23.25 per ounce, platinum climbed 0.8% to $913.07, and palladium gained 1.6% to $990.48.

Persons: Kyle Rodda, Wang Tao Organizations: U.S . Federal, Hamas, Traders Locations: Singapore, Israel, U.S, Yemen

☆ Everything to know about season 2 of 'The Last of Us'
▼ + stars: | 2024-01-15 | by ( Kirsten Acuna | Palmer Haasch | ) www.businessinsider.com time to read: +8 min

Here's everything we know about the new season. Advertisement'The Last of Us' season 2 will not cover all of the video game sequelMaria (Rutina Wesley), Tommy (Gabriel Luna), Joel (Pedro Pascal), and Ellie (Bella Ramsey) in Jackson in "The Last of Us" season one. Liane Hentscher/HBOWhile "TLOU" season one covered the events of the 2013 game, the second season will not cover all of its 2020 sequel. Fans are concerned Joel could die in season 2Joel (Pedro Pascal) cradles Ellie (Bella Ramsey) in the season one finale of "The Last of Us." But it would be difficult to envision season two straying from Joel's death since it's the key motivation for Ellie's path in the sequel game.

Persons: —, Bella Ramsey, Pedro Pascal, Joel, Pascal, Ellie, Ramsey, Nick Offerman, Murray Bartlett, Long, Maria, Rutina Wesley, Tommy, Gabriel Luna, Liane Hentscher, Craig Mazin, Neil Druckmann, Josh Horowitz, Mazin, Kaitlyn Dever, Abby, Gilbert Flores, Dina, Young Mazino, Jesse, Dina's, Elyse Jankowski, Lev, Ian Alexander, Frazer Harrison, Alexander hadn't, HBO hasn't, Will Joel, it's, Francesca Orsi Organizations: Service, HBO, Business, Golden Globes, Getty, Netflix, Jackson, Images, Entertainment Locations: Jackson, Isabela Merced, Vancouver

☆ Wholesale prices unexpectedly fall 0.1% in December in positive inflation sign
▼ + stars: | 2024-01-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Wholesale prices unexpectedly declined in December, providing a positive signal for inflation, the Labor Department reported Friday. Excluding food, energy and trade services, PPI also was up 0.2%, in line with the estimate. For the full year, the final demand measure less food, energy and trade services rose 2.5% for all of 2023 after being up 4.7% in 2022. Markets initially reacted positively to the PPI release but turned lower through morning trading. PPI measures the prices that producers pay for goods and services, while CPI gauges what consumers pay in the marketplace.

Persons: Dow Jones, Kurt Rankin, Jamie Dimon Organizations: Labor Department, PPI, PNC, Diesel, Traders, Federal, Market, JPMorgan Locations: U.S

☆ Dollar pares gains on soft U.S. inflation data
▼ + stars: | 2024-01-12 | by ( ) www.cnbc.com time to read: +3 min

The dollar index pared gains on Friday after U.S. producer prices unexpectedly fell in December, raising expectations of an early U.S. rate cut. That led traders to add to bets for a rate cut in the coming months. Fed funds futures now imply a 79% chance of a March rate cut, up from 73% on Thursday, according to the CME Group's FedWatch Tool. Traders maintained their view that a March rate cut is likely even after consumer price inflation data on Thursday came in above economists' expectations. The dollar index was last up 0.19% at 102.40.

Persons: Steve Englander, Englander, Martin Luther King Jr, Sterling, bitcoin Organizations: U.S, British, Global, Research, Standard Chartered Bank, Branch, Traders, U.S . Securities, Exchange Commission, Wednesday Locations: Yichang, Hubei province, U.S, Yemen, America, Zealand, Iran, Red, Gaza

☆ Global shipping rates set to jump as carriers avoid the Red Sea amid Houthi attacks
▼ + stars: | 2024-01-10 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products. British clothing retailer Next recently warned of stock delays as a result of the longer ocean transit. "This creates strong motivations for ocean carrier(s) to increase rate(s) by establishing General Rate Increases (GRIs), Peak Season Surcharge (PSSs), and other contingency or emergency surcharges," the company said. "HLS warned Transpacific freight rates could spike to highs not seen since early 2022, with the Suez Canal route suspended, and the Panama Canal route restricted." Kuehne + Nagel analysts told CNBC that 419 vessels are currently being rerouted due to the Red Sea situation.

Persons: Jon Gold, HLS, Good Hope, Kuehne, Nagel, Franziska Bietke, Mark Rhodes, Rhodes Organizations: Lane Shipping, Ikea, National Retail Federation, CNBC, MSC, U.S ., East, U.S . Shipping Act, Federal Maritime Commission, Kuehne, Logistics, Crane Worldwide Logistics, CNBC PRO Locations: Suez, Ismailia, Egypt, Iran, Red, Africa, Asia, British, West Coast, Panama, U.S . West Coast, East Coast, Gulf of Mexico, South Africa's, Good, Project44, Europe

☆ An estate manager for the wealthy shares some of the outlandish and intimate requests she's received from clients
▼ + stars: | 2024-01-10 | by ( Mark Ellwood | ) www.businessinsider.com time to read: +7 min

She and her team coordinate service providers, from gardeners to party planners, for her clients. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEmily Webb-Doskow, an estate manager, receives strange requests from wealthy clients. These shifts expanded the prospective client base of families who could benefit from an estate manager. She said a starting salary for a full-time estate or house manager could be about $150,000.

Persons: Emily Webb, Doskow, Baker, —, Webb, Rich, I've, She's, bender, Barths, Holger Leue, they'd, they're Organizations: Webb, Service, Craigslist, Business, Baker, Estate Management, YouTube Locations: Los Angeles, New York City, St, America

☆ Dollar gains before inflation data, bitcoin slips
▼ + stars: | 2024-01-09 | by ( ) www.cnbc.com time to read: +3 min

The dollar rose against the euro and yen on Tuesday as traders awaited inflation data on Thursday for clues on when the Federal Reserve is likely to cut rates. But Fed expectations are likely to continue to drive dollar moves. The release on Thursday of the consumer price inflation report for December will be the main piece of economic data this week. If the data confirms that inflation is continuing to moderate it could boost expectations for a March rate cut, though if it comes in above expectations it could also reverse some of that pricing. The U.S. dollar index , which measures the greenback against a basket of six currencies, was last up 0.33% at 102.55.

Persons: Bipan Rai, Kamal Sharma, steepening, Sharma Organizations: Federal Reserve, Securities and Exchange, CIBC Capital Markets, Bank of America, Fed, U.S, Bank of Japan, Investment Locations: North American, Toronto, U.S, Asia, Bitcoin

Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015. Cloud competition from HuaweiAlibaba has been an industry leader in the cloud business. Alibaba in November blamed U.S. restrictions on chip sales to China for the decision to pull the cloud IPO. Alibaba said its cloud business revenue grew by just 2% year on year in the quarter ended Sept. 30. Those resellers were other companies that had acted as distributors or agents for Alibaba cloud and received commissions.

Persons: Brendan McDermid, It's, Alibaba, hasn't, they're, Duncan Clark, Clark, ”, Jack Ma, Brian Wong, Eddie Wu, Trudy Dai, Daniel Zhang, Yi Zhang, —, Alibaba's, Canalys, BDA's Clark Organizations: Alibaba Group Holding, New York Stock, Reuters, BDA, Alibaba Group, Alibaba, Duncan Clark BDA, Huawei Alibaba, Huawei, Tencent, “ Global Locations: Reuters BEIJING, U.S, China, Beijing, Alibaba

☆ The runway is getting clearer, but the U.S. economy still isn't assured of a soft landing
▼ + stars: | 2023-12-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Stephanie Keith | Bloomberg | Getty ImagesNovember's solid jobs report did not assure that the economy will come in for a soft landing, but it did help to clear the runway a little more. "Overall, the jobs market is doing its part to get us to a soft landing," said Daniel Zhao, lead economist at jobs rating site Glassdoor. The unemployment rate unexpectedly declined to 3.7%, easing worries that it could trigger a historically dead-on signal known as the Sahm Rule, which coordinates increases of the unemployment rate by half a percentage point to recessions. "The recession versus soft landing debate sort of misses the necessary nuances of this unique cycle," Sonders said. "A best-case scenario is not so much a soft landing, because that ship has already sailed for [some] segments.

Persons: Stephanie Keith, Daniel Zhao, nonfarm, Gus Faucher, Liz Ann Sonders, Charles Schwab, Sonders, Sanders, Schwab Organizations: Bloomberg, Getty, Labor, PNC Financial Services, PNC, University of Michigan's Locations: New York, U.S

☆ California's Salton Sea could hold enough lithium for 375 million batteries — more than the total number of vehicles currently on US roads
▼ + stars: | 2023-12-05 | by ( Jennifer Solis | Nevada Current | ) www.businessinsider.com time to read: +6 min

The US Department of Energy released an analysis estimating how much lithium is under the Salton Sea. Salton Sea has the potential to produce an estimated 375 million lithium batteries for electric vehicles — more than the total number of vehicles currently on US roads, according to the analysis commissioned by the Department of Energy. It's the most comprehensive analysis to date quantifying the domestic lithium resources in California's Salton Sea region. AdvertisementIf the Salton Sea lithium can be extracted, it could give the US the ability to produce domestically sourced lithium, ending the nation's dependence on rival countries for a supply of the metal. AdvertisementThe state of California is also leaning into the development of lithium extraction in the Salton Sea.

Persons: DOE's Lawrence, Biden's, Jeff Marootian, George Rose, Gavin Newsom, Thacker Organizations: US Department of Energy, Service, Department of Energy, DOE's Lawrence Berkeley National Laboratory, Berkshire Hathaway Energy, DOE, California State, California Gov, US Fish and Wildlife Service Locations: Nevada's Thacker, Salton, Niland , California, California, Saudi Arabia, Nevada, In Nevada, Esmeralda County

☆ Sanofi CEO under pressure to woo investors after spending shock
▼ + stars: | 2023-12-05 | by ( Ludwig Burger | ) www.reuters.com time to read: +5 min

[1/2] Paul Hudson, chief executive officer of Sanofi, speaks during the annual results news conference at the company's headquarters in Paris, France, February 4, 2022. The market's shock reaction, compounded by a lack of details of the spending push, overshadowed Sanofi's plan to list its consumer unit, in line with an industry trend. David Song, a portfolio manager and investment partner at Tema ETF, said: "The narrative of Sanofi has been a margin expansion, earnings-driven story for a lot of investors." "Shouldn't investors give credit to managements who care about long-term shareholder value creation?," said Song. ($1 = 0.9206 euros)Reporting by Ludwig Burger; Editing by Josephine Mason and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Paul Hudson, Sanofi, Benoit Tessier, Hudson, Dan Lyons, Janus Henderson, Markus Manns, David Song, Fabian Wenner, Julius Baer, Union's Manns, Janus Henderson's Lyons, Johnson, Song, Ludwig Burger, Josephine Mason, Emelia Organizations: REUTERS, Reuters, Janus Henderson Investors, Germany's Union Investment, Tema, Thomson Locations: Paris, France, British, Hudson, Denver, Swiss, Tema

☆ ECB hawk Schnabel scraps more rate hikes after 'remarkable' inflation drop
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +4 min

Euro zone inflation tumbled to 2.4% last month from above 10% a year earlier after a record string of rate hikes. Schnabel, who had insisted just a month ago that rate hikes must remain an option because the "last mile" of the inflation fight may be the toughest, said she had shifted stance after three unexpectedly benign inflation readings in a row. "The most recent inflation number has made a further rate increase rather unlikely." "The recent inflation print has given me more confidence that we will be able to come back to 2% no later than 2025." Schnabel said weak growth as a result of the ECB's rate hikes is helping the inflation fight but that a deep or prolonged recession is unlikely, with recent survey data supporting expectations for a recovery.

Persons: Isabel Schnabel, Jim Urquhart, Schnabel, John Maynard Keynes, Christine Lagarde, Francois Villeroy de, Yannis Stournaras, Joachim Nagel, Balazs Koranyi, Catherine Evans Organizations: European Central Bank, Teton, Jackson, REUTERS, Rights, ECB, Reuters, Bank of Greece, Thomson Locations: Jackson , Wyoming, U.S, French, Francois Villeroy de Galhau

☆ China's policy support is a 'stop-gap' measure — not stimulus, SocGen economist says
▼ + stars: | 2023-12-05 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

Close up of Chinese Yuan notes, with Mao Tse-tung Peter Dazeley | The Image Bank | Getty ImagesChina's recent policy support is aimed at fixing its system and shouldn't be seen as economic stimulus, according to Societe Generale's Asia chief economist and head of research. PMI divergenceExpansion in China's services sector climbed to its strongest since August, a private survey on Tuesday showed. However, the private survey diverged from China's official PMI. The moderating manufacturing PMI and contracting services PMI, along with other November data point to the fragility of the Chinese economy and a faster deceleration of growth momentum last month, they added. The official PMI includes more companies engaged in heavy industries compared with the Caixin PMI, which covers more consumer-focused firms, Barclays economists said.

Persons: Yuan, Mao Tse, Peter Dazeley, Wei Yao, Yao, Jian Chang Organizations: Bank, Getty, Societe Generale's, CNBC, Economic Work Conference, China Communist, PMI, National Bureau of Statistics, NBS, Barclays Locations: Societe Generale's Asia, China

☆ Earth's core may be coated in a layer of crystals created by water leaking from the surface: study
▼ + stars: | 2023-12-05 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +6 min

Water leaking into the Earth may be wrapping the core in crystals, a study has suggested. "For years, it has been believed that material exchange between Earth's core and mantle is small. We still don't know everything about our planet's insidesThe Earth's core is only about 1,800 miles under our feet, but it's more inaccessible than Mars. Dan Shim/ASUTo support their hypothesis, the scientists simulated the high-pressure conditions of the outer core in the lab. He added that his calculations show that he can explain the E-prime layer "reasonably well" with a range of water transportation scenarios.

Persons: Dan Shim, Shim, haven't, Jon Wade, Wade Organizations: Service, Arizona State University, Geosciences, ASU, Materials, Oxford University

☆ China's Nov services activity accelerates on boost from new orders - Caixin PMI
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

The findings present a mixed picture of the vast services sector as an official survey last week showed the sector unexpectedly contracted for the first time since December last year, prompting calls for more stimulus measures. "Both services supply and demand expanded, as the market continued to heal," said Wang Zhe, economist at Caixin Insight Group. Analysts say the different survey sizes and composition of surveyed companies might explain the discrepancy between the Caixin and official PMI readings. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, grew to 51.6 from 50.0 in October, marking the strongest reading since August. According to the Caixin services survey, employment fell for the first time since the start of 2023 as some firms maintained a cautious approach to hiring.

Persons: Wang Zhe, Wang, Louise Loo, spender, Loo, Ellen Zhang, Ryan Woo, Shri Navaratnam Organizations: P Global, Caixin Insight, PMI, Oxford, Thomson Locations: BEIJING, October's, China

At issue is whether U.S. bankruptcy law allows Purdue's restructuring to include legal protections for the members of the Sackler family, who have not filed for personal bankruptcy. Members of the Sackler family have denied wrongdoing but expressed regret that OxyContin "unexpectedly became part of an opioid crisis." They said in May that the bankruptcy settlement would provide "substantial resources for people and communities in need." The administration told the Supreme Court that Purdue's settlement is an abuse of bankruptcy protections meant for debtors in "financial distress," not people like the Sacklers. The administration has also alleged that the Sackler family members withdrew $11 billion from Purdue before agreeing to contribute $6 billion to its opioid settlement.

Persons: painkiller, George Frey, Joe Biden's, Sackler, Biden, OxyContin, John Kruzel, Andrew Chung, Will Dunham Organizations: Purdue Pharma L.D, REUTERS, Rights, Purdue Pharma, WASHINGTON, U.S, Supreme, Purdue, Circuit, Thomson Locations: Provo , Utah, U.S, Stamford , Connecticut, Manhattan

☆ Dollar rises, recouping losses from strengthened Fed rate cut bets
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: +2 min

The dollar index, which tracks the currency against six major peers, rose by 0.4% to 103.71, while the euro was last down nearly 0.5% at $1.0828. "I think it's the fact that U.S. policy rate expectations have gone too far and will unwind more in December than rate expectations elsewhere," said Colin Asher, senior economist at lender Mizuho in London. "November was... a very poor month for the U.S. dollar, in part driven by expectations of easier Fed policy," Asher said. The dollar was trading higher against the yen at 147.34, after falling to 146.24 in the Asian session, its lowest since mid-September. "A steady USD decline needs more than just an expectation of Fed rate cuts, it also needs strong growth outside of the U.S. which doesn't seem to be the case currently," said Charu Chanana, market strategist at Saxo Markets.

Persons: Colin Asher, Asher, Sterling, Jerome Powell, Charu, denting, Christine Lagarde Organizations: Federal Reserve, Mizuho, U.S ., Saxo Markets, European Central Bank Locations: London, Germany

Never Back Down, the super PAC supporting the Republican’s White House bid, abruptly let go three key senior staffers that evening, including an interim CEO who had just been installed nine days earlier. The sudden departures sent shockwaves throughout DeSantis’ political operation, from Tallahassee to Des Moines. One of the dismissed operatives had appeared that day at a super PAC event in Sioux City, Iowa, that featured DeSantis. “They’re a laughingstock.”Jess Szymanski, a spokeswoman for the super PAC, dismissed the outside criticism. After months of watching ads and receiving mailers from the super PAC, voters seemed unaware – and unfazed – by the duplication.

Persons: Ron DeSantis, DeSantis, Donald Trump, ” DeSantis, “ It’s, DeSantis –, –, David Polyansky, ” Polyansky, Kristin Davison, Adam Laxalt, caucusgoers, ”, canvasser, “, ” Jess Szymanski, Loren Reit, Reit, “ We’ve, NBD Organizations: Iowa CNN, Florida Gov, PAC, CNN, Republican, Iowa, Outsiders, Trump, GOP, Washington Post, Gov, Cody, “, Iowa - Locations: Newton, Iowa, Tallahassee, Des Moines, Sioux City , Iowa, Florida, DeSantis, Nevada, United States, Eldridge, Clive, Spencer, Iowa - South Dakota, “

☆ 2023 through the lens of Reuters photographers
▼ + stars: | 2023-12-04 | by ( Reuters Photographers | ) www.reuters.com time to read: +3 min

Reuters photographers were on the ground to capture it all as it unfolded - and much more. 649 photographers125 countries1.3 million photosOn Oct. 7, Hamas rampaged through southern Israel, killing around 1,200 people and taking about 240 hostages, according to Israeli tallies. While this war and other stories took the spotlight off Ukraine, the conflict raged on in the country’s east. Amid the death and despair that marked 2023, humans still found ways to remember and to celebrate - and Reuters photographers looked for those stories, too. A Reuters photographer took a picture of an object drifting down to the coast in South Carolina after it was shot down, just one moment among many that made up the world in 2023.

Persons: Abdulalim Muaini, Donald Trump, Sam Bankman, Fried, King Charles III Organizations: U.S ., Reuters Locations: Ukraine, Israel, Turkey, Syria, Morocco, Europe, Canada, America, California, Congo, Darfur, Sudan, Haiti, U.S, rickety, Gaza, United States, Mexico, South Carolina

☆ Explainer: How will the Supreme Court reshape US opioid epidemic relief?
▼ + stars: | 2023-12-03 | by ( John Kruzel | ) www.reuters.com time to read: +5 min

The settlement also would shield the Stamford, Connecticut-based pharmaceutical company's wealthy Sackler family owners from lawsuits brought by opioid victims. A U.S. bankruptcy court approved that restructuring plan in 2021. Lawsuits against Purdue and Sackler family members accuse them of fueling the opioid epidemic through deceptive marketing of its pain medication. They said in May that the bankruptcy settlement would provide "substantial resources for people and communities in need." The administration also has said Sackler family members withdrew $11 billion from Purdue before agreeing to contribute $6 billion to the opioid settlement.

Persons: OxyContin, Sackler, Department's, Joshua Silverstein, Silverstein, Joe Biden's, John Kruzel, Dietrich Knauth, Will Dunham Organizations: Purdue Pharma, WASHINGTON, U.S, Supreme, Purdue, U.S ., District of Columbia, University of Arkansas, Justice Department, Thomson Locations: Stamford , Connecticut, United States, U.S, Little, New York

☆ Pension-eligible workers face complex Social Security rules that may reduce benefits. How to more accurately estimate retirement income
▼ + stars: | 2023-12-02 | by ( Lorie Konish | ) www.cnbc.com time to read: +6 min

Richard Stephen | Istock | Getty ImagesWhen Joyce Debnam's husband passed away, she began receiving $1,400 a month in Social Security survivor benefits. That life change prompted Debnam's Social Security benefits to be cut to just $174 a month. Moreover, the Social Security Administration notified her she had to return $5,000 in benefits she had been overpaid. Debnam is one of millions of workers who is affected by Social Security rules related to public workers and reductions in the benefits they are eligible to receive. "We recommend that people review their Social Security Statement at least once every year, which includes important information about WEP and GPO," a Social Security spokeswoman said in a statement.

Persons: Richard Stephen, Istock, Joyce Debnam's, Debnam, Mike Carey R, Mike Carey, Carey, Mark Warshawsky, Warshawsky Organizations: Social, United States Postal Service, Debnam's Social, Social Security Administration, Social Security, Congressional Research Service, GPO, Security, American Postal Workers Union, American Enterprise Institute Locations: Debnam, Suitland , Maryland, Ohio, Baton Rouge , Louisiana

☆ 10 Works and Performances That Helped Me Make Sense of 2023
▼ + stars: | 2023-12-02 | by ( Salamishah Tillet | More About Salamishah Tillet | ) www.nytimes.com time to read: +2 min

I was staving off my own mourning as my family prepared for the 10th anniversary of my brother Shaka’s death from cancer. That, coupled with political crises and global despair, pushed me to find film, television and performances that helped me make sense of my grief and, hopefully, find a release for it. I can’t think of three more heart-wrenching performances of parental loss than Shiv (Sarah Snook), her voice breaking as she pleads, “Daddy? A man without a company, it is a fate that, for him, is far worse than death. (Read our review of the “Succession” finale.)

Persons: ” Juicy, Shakespeare’s, Z, Marcel Spears, Juicy, Ham, ’, Logan Roy, Brian Cox, Jesse Armstrong, that’s, Sarah Snook, “, Don’t, Kieran Culkin, Kendall, Jeremy Strong Organizations: Broadway Locations: Ham

☆ Disappointed Tesla fans took aim at the Cybertruck over its 'cringe' launch, with one even saying their 'dream got crushed' by its unexpected price hike
▼ + stars: | 2023-12-01 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

The Cybertruck will start at $60,990, tens of thousands more than what Tesla promised in 2019. It was the opposite, horrible launch event, disappointing range, almost abusive pricing considering what was promised," wrote one Tesla fan on Reddit . "For me, this potential purchase was always always about two things, setting aside the design: range & price. The company is offering a "range extender" which it says will bring the Cybertruck closer to its promised range. Prominent tech YouTuber Marques Brownlee also criticized the discrepancy between what Tesla promised in 2019 and what it is offering now.

Persons: Elon Musk, Austin Gigafactory, Tesla, —, Austin gigafactory, Musk, Cybertruck subreddit, Elon, I've, it's, YouTuber Marques Brownlee Organizations: Service, Business

☆ UK housing market shows new signs of strength - Nationwide
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

A rainbow is seen over apartments in Wandsworth on the River Thames as UK house prices continue to fall, in London, Britain, August 26, 2023. REUTERS/Kevin Coombs/File Photo Acquire Licensing RightsLONDON, Dec 1 (Reuters) - British house prices rose unexpectedly in monthly terms for the third time running in November, adding to signs that the housing market downturn has abated, mortgage lender Nationwide said on Friday. House prices rose by 0.2% on the month in November, after a 0.9% increase in October. Compared with a year ago, house prices were 2% lower - the smallest such drop in nine months. "There has been a significant change in market expectations for the future path of Bank Rate in recent months which, if sustained, could provide much needed support for housing market activity," said Robert Gardner, chief economist at Nationwide.

Persons: Kevin Coombs, Robert Gardner, Andy Bruce, Sarah Young Organizations: REUTERS, Nationwide, Bank of England, Thomson Locations: Wandsworth, London, Britain

☆ US opens probe into 73,000 Chevrolet Volt cars over loss of power
▼ + stars: | 2023-12-01 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

A Chevrolet Volt plug-in hybrid vehicle is being charged at Stewart Chevrolet in Colma, California, U.S., October 3, 2017. REUTERS/Stephen Lam/File Photo Acquire Licensing RightsWASHINGTON, Dec 1 (Reuters) - A U.S. auto safety regulator said on Friday it is opening an investigation into 73,000 Chevrolet Volt plug-in hybrid cars over reports of abrupt loss of power, failures to restart and other issues. The National Highway Traffic Safety Administration said it was opening the preliminary evaluation into the 2016 through 2019 model year Chevrolet Volt after 61 complaints tied to the Battery Energy Control Module (BECM). Some complaints reported there was little to no warning before the loss of operating power or reduced power mode occurred. Another owner reported the Volt would not drive more than over 35 miles per hour on the highway "and it stops driving on electricity randomly."

Persons: Stewart, Stephen Lam, David Shepardson, Susan Fenton, Sharon Singleton Organizations: Chevrolet, Stewart Chevrolet, REUTERS, Rights, Traffic Safety Administration, Battery Energy Control, General Motors, NHTSA, GM, Thomson Locations: Colma , California, U.S, Los Angeles

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